JB Juice Company uses a manufacturing process that has two distinct stages: the juicing process (P1) and the straining process (P2) . Raw material is consumed in P1 at the beginning of the process. No additional raw material is required in the second stage of the process (in P2) . The following information pertains to the production of 5,000 units of output in March 2011:
Assume 5,000 units are 100% complete with respect to raw materials and conversion costs at the end of March.
-The conversion cost per unit of output for stage PI for the JB Juice Company totals:
Definitions:
Unforeseen Circumstances
Events or situations that could not have been predicted or expected and may affect the ability to fulfill obligations.
Liquidated Debt
A debt with a known, fixed amount that is not disputed by either party.
Unliquidated Debt
A debt for which the exact monetary value has not been determined.
Preexisting Duty
An obligation that a party is already legally bound to fulfill, which cannot serve as consideration for a new contract.
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